City Council

(13) 18-0269-S8 CD 14 MOTION (DE LEON - BLUMENFIELD) relative to the acceptance of public benefit payments on behalf of Lightstone DTLA, LLC, developer of a project located at 1240 - 1260 South Figueroa Street and 601 West Pico Boulevard, for blight removal, facade improvements, street cleaning, and graffiti removal services within Council District 14. Recommendations for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR: ACCEPT the sum of $30,00 paid by Downtown Live, LLC, for Lightstone DTLA, LLC, the developer of a project located at 1240-1260 South Figueroa Street and 601 West Pico Boulevard (Planning Case No. ENV-2016-2594-EIR) and Development Agreement dated August 13, 2018 (Contract No. C-131790) approved by Ordinance No. 185667, and cause this sum to be deposited into the Board of Public Works, Bureau of Street Services, Fund 100/86, Revenue Source Code 5188, Miscellaneous Revenue, and therefrom appropriated into Board of Public Works, Bureau of Street Services, as follows: $30,000 in Fund 100/86, Account 003040, Contractual Services. ACCEPT the sum of $200,000 paid by Downtown Live, LLC, and Beacon Property Management, LLC, for Lightstone DTLA, LLC, and cause this sum to be deposited into the Council District 14 Public Benefits Trust Fund No. 57L/14, for the purpose of addressing blight removal, facade improvements, street cleaning, graffiti removal, etc., within Council District 14. AUTHORIZE the City Clerk to make any corrections, clarifications or revisions to the above fund transfer instructions, including any new instructions, in order to effectuate the intent of this Motion. Motion (de Leon - Blumenfield) dated 2-09-24